Indexation benefit in ltcl

Jigna (Student CA IPC / IPCC) (55 Points)

11 December 2014  

I wanted to know when there is long term capital loss on sale of unlisted shares, indexation benefit is available on same while computing such loss ??

For eg 

Mr. X is having 50000 Equity shares @ Rs.10/- on 01/04/2000 in ABC Ltd which is unlisted company.

And he sale the same on 10/12/2014 @ Rs.3/- per share

So Computation will be as follows.

                              FVOC                         Rs.1,50,000/-      (50000 SH*Rs.3/-)

                 Less      ICOA                          Rs. 12,61,000/-  (10*(1024/406)*50000)

                        LTCL                           (Rs.11,11,000  )

 

Pls let me kno whether above computation is correct & can it b taken as a set off agains long term capital gain of sale of Shares of XYZ Ltd (unlisted company) Rs.20,00,000/- ???